Oxford Properties has bought a 拢202.5m (鈧�235.7m) UK logistics portfolio from M&G UK Property.
Oxford Properties said the acquisition of the portfolio of seven big-box logistics assets was sourced and secured through its portfolio company M7 Real Estate.
The acquired assets include three single-let and four multi-let assets, comprising approximately 764,000sqft of space. Five of the assets are located in London and the South East and the remaining two are in Birmingham.
Pierre Leocadio, the head of investments, Europe at Oxford Properties, said the deal kickstarts the company鈥檚 plan to acquire larger distribution and warehouse assets, a 鈥渒ey pillar of our pan-European logistics strategy鈥�.
Oxford Properties said it has strong ambitions for its European logistics portfolio and is targeting up to 拢6bn of deployment over the next three years.
James Boadle, the head of logistics and residential, Europe at Oxford Properties, said: 鈥淭his transaction yet again demonstrates M7鈥檚 ability to source and execute on high-quality opportunities in a competitive European logistics market.
鈥滻ts 200-person, on-the-ground team which is located across 14 European countries gives Oxford wide access to logistics opportunities through a variety of methods including portfolio acquisitions, single-asset aggregation and off-market opportunities.
鈥漈his is a competitive advantage that M7 provides which our co-investors are increasingly seeking out as they look to deploy capital into the dynamic European logistics sector.鈥�
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